I would suggest a x38, x48 or p45 chipset board instead of the old p35, if you never plan on going CF with your 4870 then the p45 should be enough for you with 1x pcie2.0 16x slot, but if you are thinking of going CF down the road the x38 and x48 will be able to provide you with 2 pcie2.0 slots going at 16x.
The p35 does not support pcie2.0 and so is in effect only equivalent to a pcie2.0 8x slot, I have seen benches were you might loos 10-15% at high resolutions 1900+.
I like Gigabyte and have had good experience will all my Gigabyte mobo builds.
The rest of your build looks good.
Thanks for the info and suggestion. I'm now considering the GIGABYTE GA-X48-DS4 LGA 775.